This will be the richest place on the planet by 2020

Any plans of moving?

Macau, the Chinese territory known as the Las Vegas of Asia, is all set to become the world’s richest place in 2020. One of the world’s biggest casino hub, its economy is estimated to reach the equivalent of about $143,116 (₹1.01 crore) per person in two years. These projections by the International Monetary Fund (IMF) will put Macau ahead of current leader Qatar, which is estimated to reach $139,151 (₹97 lakh) in the same time frame. Macau is a special Chinese administrative region on the southern tip of the country. It is the only place in the country where casinos are legal. It goes without saying that the region attracts a fair number of whales.

Macau has clocked a gross domestic product (GDP) that has tripled since 2001. According to IMF data, the GDP was at $34,500 per person (₹24.16 lakh) in 2001. It is now valued at $103,500 (₹72.48 lakh). The data also shows that the wealth gap is expected to grow more between Qatar and Macau after 2020. Third on the list is European industrial center Luxembourg which is expected to have a GDP of $118,150 (₹82.9 lakh) by the year 2020. Asian financial hub, Singapore comes fourth on the list as they are expected to touch $100,000 (₹69.89 lakh) mark by next year.

Brunei Darussalam is behind Singapore with a projected GDP of $94,370 (₹66 lakh) by 2020. Ireland, Norway, United Arab Emirates, Kuwait and Hong Kong make the top 10 in the International Monetary Fund’s global economic outlook database. United States of America is 12th in the list.

The IMF data also establishes Macau’s position as the world’s most preferred gambling destination since Las Vegas’ revenue from casinos was valued just at $5.84 billion (₹40,891 crore) as compared to Macau’s casino revenue of $32.68 billion (₹2.2 lakh crore).